Production the 24-karatcoins were
authorized by Public Law 109-145, dated December 22, 2005.

The coin’s obverse and reverse designs feature images
originally prepared by noted American sculptor James Earle Fraser, once a
student of Augustus Saint-Gaudens, for America’s 5-cent coin (nickel).

That popular coin, known as the Indian Head, or Buffalo, nickel was introduced
in 1913 and showcases the native beauty of the American West.

The Native American depiction on the coins obverse is believed to be based on
three different American Indians. Two of the American Indians who modeled for
Fraser as he sculpted the coin were named by the designer before his death. They
were known as Chief Iron Tail of the Lakota Sioux and Chief Two Moons of the
Cheyenne. Although many have claimed to have had a sitting with Fraser for this
design, he could not recall the name of the third person and satisfactory
documentation has not yet been found to identify that individual. It is widely
believed that the bison on the coins reverse was modeled after Black Diamond, a
popular attraction at the New York Zoological Gardens.

In the first year of the coin’s issuance, 1913, there were two distinct
varieties, the first showing the bison on a mound and the second with the base
redesigned to a thinner, straight line. Coins bear the
original Fraser Type I design.

United States Mint Bullion Coins

Gold Bullion Coins are the first .9999 fine 24-karat coins
ever struck by the United States Mint and offered for sale through a network of
Authorized Purchasers. These $50 coins are available to members of the
public seeking a simple and tangible means to own and invest in 24-karatin
the form of legal tender coins whose content and purity is guaranteed by the
United States Government.

Gold
Bullion
Coins
are
available
at
many
coin
and
precious
metals
dealers
as
well
as
many
brokerage
houses
and
participating
banks.
Pricing
for
precious
metal
investment
coins
typically
depends
on the
market
price
of the
metal.

United States Mint Proof Coins

The United States Mint produces a proof version of these coins for collectors.
The term "proof" refers to a specialized minting process that begins by manually
feeding burnished coin blanks into presses fitted with special dies. Each coin
is struck multiple times so the softly frosted and highly detailed images seem
to float above the field.

An official Certificate of Authenticity accompanies each coin.

All 24-KaratCoins are struck at the United States Mint at
West Point . The 24-KaratBullion Coins are minted and
sold in the same manner as American Eagle Bullion Coins .